Purpose of the task:
This assignment has been designed to allow you the opportunity to create a marketing plan for an organisation. You will also critically evaluate strategic marketing arguments and/or propositions and make judgements that guide the development of marketing plans and decision-making. In addition, students deliver their marketing plan in an individual presentation.
Artificial Intelligence has permeated our lives incrementally, through everything from the tech powering our smartphones to autonomous-driving features on cars to the tools retailers use to surprise and delight consumers. As a result, its progress has been almost imperceptible.
Generative AI has the potential to generate $2.6 trillion to $4.4 trillion in value across 63 industries. Its precise impact will depend on a variety of factors, such as the mix and importance of different functions, as well as the scale of an industry’s revenue. History has shown that new technologies have the potential to reshape societies. Artificial intelligence has already changed the way we live and work.
AI enables the development of innovative products and services. For example, businesses can create AI-driven applications, virtual reality experiences, and other cutting-edge solutions that differentiate them in the market. Businesses that effectively leverage AI gain a competitive edge. Whether through improved operational efficiency, better customer experiences, or innovative products, AI can be a key differentiator in the marketplace.
In summary, AI-based products are important in today’s business environment because it offer a wide range of benefits, including enhanced customer services, better efficient innovative products, and the ability to stay competitive in a rapidly evolving landscape.
Considering the above situation, you are required to select or create any Artificial Intelligence based product/service and develop a marketing plan of this product/service for any organization. You also need to explore and justify the rationale for the various strategic marketing decisions, while creating the marketing plan.
Situation Analysis
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Internal Environment
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External Environment (PESTLE analysis)
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SWOT Analysis
